Chevron, Sasol agree to create gas-to-liquids joint venture

Chevron Corp. and Sasol have agreed to create a 50/50 joint venture, Sasol Chevron holdings, to develop gas-to-liquids technology, Chevron said Monday. Chevron and Sasol plan to invest more than $5 billion over the next five to 10 years in GTL ventures worldwide through the venture. The companies initially announced their intention to expand their GTL activities to a worldwide scale in June 1999.

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